The Construction Market in EMEA is expected to grow at a CAGR of 5.34% to reach USD 382.8 billion by 2028. The construction sector in EMEA is on the brink of significant transformation, driven by the adoption and integration of advanced technologies. Productivity is set to increase through the utilization of new materials, such as durable concrete, high-performance concrete, mineral admixtures, condensed silica fume, and high-volume fly ash concrete, which are the result of technological advancements in their manufacturing processes. Simultaneously, there is a growing trend towards prefabricated modular building blocks and more automated, manufacturing-based construction methods. This shift necessitates more efficient supply chain management to ensure seamless implementation. However, the increased use of new materials and manufacturing processes introduces new product liability risks for construction companies, requiring heightened vigilance and risk management strategies.
EMEA dominates the regional market because of The EMEA construction market exhibits robust growth, driven by increasing infrastructure development and real estate investment. Notable projects in sectors such as transportation, energy, and residential housing are propelling market expansion. Businesses in this industry can capitalize on the region's economic growth and favorable regulatory environment to seize opportunities and expand their footprint. Strategic partnerships and innovative solutions will be key differentiators in a competitive landscape.
There are various factors that drive the Construction Market in EMEA market which are as following: In the European, Middle Eastern, and African (EMEA) construction market, energy consumption and greenhouse gas emissions from buildings are significant concerns. The construction, operation, and maintenance of buildings require substantial amounts of energy, leading to high costs and environmental impact. With natural energy resources becoming increasingly scarce, it is crucial to prioritize energy-efficient building designs, such as green buildings. These structures are ergonomically designed to minimize energy consumption, reducing both operational costs and carbon footprint. By implementing energy-efficient solutions, the EMEA construction industry can contribute to sustainable development and mitigate the environmental impact of buildings.
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Construction Market in EMEA Segmentation
End-user (Private sector, Public sector) Type (Commercial, Residential) Geography (EMEA)
The market witnesses several challenges, which are as follows The construction sector relies on a range of essential building materials, including stainless steel, hardened steel, cast iron, cement, brick, crude oil, aggregates, and metal alloys. The concurrent scarcity of these materials contributes to price escalation, instigating inflation and subsequently elevating overall construction costs. Consumers in economically robust European nations, such as the UK, France, and Germany, possess the financial capacity to absorb these price increases. Conversely, African countries, like Nigeria and Namibia, face significant challenges in coping with such cost hikes, making it arduous for building contractors to undertake costly construction projects. Throughout the construction process, the industry utilizes various inputs, such as raw materials, land, labor, and utilities.
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Some of the key companies that have been profiled in the report include:
The construction and engineering market in EMEA (Europe, Middle East, and Africa) encompasses businesses specializing in non-residential construction, encompassing engineering service providers and Engineering, Procurement, and Construction (EPC) contractors. Residential construction firms are excluded from this market's scope. According to Technavio, the market size is determined by the consolidated revenue generated by non-residential engineering service providers and EPC contractors. Key growth drivers for the global construction and engineering market include the escalating investment in urban infrastructure, as urban populations continue to expand and the demand for advanced transportation, communication services, and essential utilities such as water and electricity increases. - The Construction Market in EMEA is experiencing significant growth, fueled by the Increase in construction of green buildings. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
The construction market in EMEA (Europe, Middle East, and Africa) is witnessing significant growth in various sectors including industrial and commercial construction. Industrial construction is focusing on infrastructure building for airports, ports, water and sewage, electricity and power projects, while commercial construction is booming with the increase in urban population and immigration. The push towards carbon neutrality and reducing greenhouse gas emissions is driving the adoption of sustainable construction practices and materials. EU-backed investments and public investments are playing a crucial role in the construction industry's resuscitation. However, material and energy prices are posing challenges for construction companies. The demand for Concrete Machinery, HVAC, Roofing, Walls & Ceilings, Flooring, and Construction Sheets is high due to the increased construction activity. The end-user industry, including buildings, is a major contributor to the economic activity and real GDP recovery in the region. The construction equipment sales market is also expected to grow due to the increasing infrastructure development. Overall, the construction market in EMEA is poised for steady growth in the coming years.
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
